UPDATE 3:30 pm:According to Sam Amick, Bibby intends to sign with the Miami Heat once he clears waivers. Amick also notes that Bibby will take about $6 million less to get out of his current deal.

Miami seems a good fit for what Bibby brings to the table — floor-spacing three-point shooting. That’s about all he really brings now, he’s not the classic PG he was a decade ago. Basically Bibby becomes another Eddie House, coming off the bench and trying to light things up for the Heat. If Miami takes Bibby they have to buyout and waive someone on the roster, they already have 15 guaranteed contracts.

Bibby was set to make the remainder of his $5.7 million this year and $6.4 million next season and you can bet Bibby took a serious haircut on those numbers to get bought out. We don’t yet know the exact terms.

This makes Bibby a free agent.

The Heat (who would have to buy out someone on their roster and release them), Celtics and maybe a return to Atlanta are possibilities. Throw Denver in the mix too.

Realize that at this point in his career Bibby is a terrible defender and rally is just a spot up shooter on offense (shooting a very goo 44 percent from three this season). That shooting thing could fit well in Miami, where LeBron James and Dwyane Wade handle the ball most of the time anyway. In Boston he would play limited minutes and could fit in the system. Atlanta might want him to back up Kirk Hinrich, but does Bibby want to do that?

After watching Chalmers miss wide open layups….his “A” need to go IMMEDIATELY ! Plus he has the foot speed of Dikembe Mutombo ! Bibby will be a significant upgrade over Arroyo, Chalmers and House !!!

That’s really sad to say but true !

Unless the Heat can land somebody like Nash, or even Andre Miller, PG’s that can run an offense and distribute the ball without turning it over…their chances of advancing past the first round are slim to none !